Categories: BusinessPress Release

Giant diamond auction fails as Sierra Leone rejects offer

Spread the news

The 706-carat gem is the second largest ever discovered in the West African country and was unearthed in March in the eastern Kono region by a Christian pastor who gave it to the government to handle the sale.

The chief auctioneer and head of the National Minerals Agency, Sahr Wonday told a packed room that the bid was below the government’s reserve amount.

“I regret to inform you however that none of the bids submitted here today matched the government of Sierra Leone’s reserve amount,” he said.

Five bids were handed to auctioneers in a sealed brown envelope, ranging from $2 million to $7.8 million.

The top bid, made by Ziad al-Ahmadi on behalf of Belgium diamond dealer Ray Diam BVBA, was rejected.

Chief auctioneer and head of the National Minerals Agency, Sahr Wonday told a packed room that the bid was below the government’s reserve amount.

Wonday said the government now hopes to get more for the stone at an international auction in either Antwerp, Belgium or Tel Aviv in Israel.

TOA Correspondent

Recent Posts

The top Nigerian who hated his own voice

Nigeria’s leading music figure and vocalist, Cobhams Asuquo, known for his singing and production said…

3 years ago

South African court halts Amazon HQ project

Following a mixed reaction from the South African community representatives, Khoi and San, the Cape…

3 years ago

How Digitalization in African Rail Transportation Is Enhancing Safety?

Mitigating the process and service barriers in African rail transportation, the digital disruption has transformed…

3 years ago

Tunisian leader to allow public views on reforms

Kais Saied, the Tunisian president has said in his speech that he will allow the…

3 years ago

The power of Niacinamide in the trending African skincare market

You know the credibility of an ingredient when it’s plastered all over bottles and jars…

3 years ago

Mozambique death toll from Cyclone Gombe rises to 48

Cyclone Gombe that flooded large areas of central and northern Mozambique is consistently leading to…

3 years ago

This website uses cookies.